SBI Chairman Applauds India’s Economic Resilience And Banking Sector Performance

New Delhi, Dec 28 (KNN) The Indian economy demonstrated resilience in the face of global uncertainties, enabling the domestic banking sector to achieve robust performance in both FY2023 and the initial half of the current financial year, stated Dinesh Khara, Chairman, State Bank of India (SBI).

Addressing the audience at SBI's banking and economics conclave, Khara emphasised the continued robustness of the Indian economy in the face of global turmoil, achieving a growth rate of 7.7 per cent in the first half of FY24, the highest among major world economies

Khara highlighted the significance of 'Brand India' and proposed that, given the increasing presence of Indians or individuals of Indian origin in leadership roles globally, it is an opportune time to solidify the concept. 

Expressing his observations over the past year, Khara noted the strengthening trajectory of the economy and the remarkable resilience displayed by the banking sector. 

He pointed out that banks not only delivered a robust performance in FY23 but also continued the trend into the first half of FY24, reinforcing capital and other key ratios.

The sector is prepared to achieve a scale conducive to funding numerous large-value projects, capital expenditure, and facilitating the transition towards green energy and mobility, Khara added.

(KNN Bureau)